GILD- If you didn't hear the news, yesterday Gilead labs were accredited with a drug that has been positively treating COVID19 patients. I checked the price and it is very expensive already. I had a look at the chart today and noticed that the last time this stock crossed golden (50/200 MA) on the weekly, it skyrocketed. On top of that, it held support like a champ. That moment is about to happen yet again. It is high risk due to price, you have to allocate less shares to spare your capital and an appropriate stop loss is at the weekly 200 MA. You must be ok to lose about $12 a share if the trade goes south but I see a massive opportunity in the works.
LOL read the report, an uncontrolled clinical case series in which 2 subjects died in spite of treatment. Remdesivir has no clinically meaningful effect on CV viruses, it was also tried on SARS (CV-1) a while back with no clinically significant effect.
It will be a bust and the stock will tank.
Nonmedical folks get real excited about medical 'breakthroughs' most of which have no plausible basis.
Warren: "Invest in what you understand..."
LucyF2492
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@DaddySawbucks, Predictions are for fools. Maybe it has a working product, maybe it does not. Either way, probability favors a long and buyers are very present. I could be wrong, that's a part of trading.
LucyF2492
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@LucyF2492, Also, no need to comment on investing, this is a trade.
The_Unwind
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Lucy,
Very well done.
Thanks for the analysis here.